AN ACT TO PERMIT THE BOARD OF EDUCATION OF THE CONRAD AREA SCHOOL DISTRICT TO TRANSFER FUNDS FROM ITS LOCAL SCHOOL DISTRICT SERVICES ACCOUNT TO ITS SCHOOL ADMINISTRATION BUILDING CONSTRUCTION ACCOUNT.

WHEREAS, the 125th General Assembly pursuant to Chapter 736, 57 Laws of Delaware, authorized and appropriated funds to the Conrad Area School District for the purpose of constructing a school administration building at a total cost of $410,000; and

WHEREAS, the local share of $164,000 is presently available as a balance in the Conrad Area School District debt service account; and

WHEREAS, the authorization to expend local debt service funds will save the local taxpayers of the Conrad District thousands of dollars in bonding fees, etc.

NOW, THEREFORE:

Be it enacted by the General Assembly of the State of Delaware:

Section 1. The Board of Education of the Conrad Area School District is hereby authorized to transfer the sum of $164,000 from its local debt service account to its school administration building construction account for the purpose of providing the local share of the cost of constructing the administration building in the Conrad Area School District authorized pursuant to Chapter 736, 57 Laws of Delaware.